Great video example of why Ft. Lauderdale is the "Venice of America".

Real Estate Market Update: Off the Cuff

The South Florida real estate market has been changing a bit in the past month.  The changes are good for sellers and maybe not as positive for buyers.  My personal experience this past month while representing both buyers and sellers has been brisk and here’s what has happened.

Last week I listed a beautiful 3 Bedroom, 2 Bathroom, Waterfront home with heated pool and 2 car garage in the Coral Heights area for $374,000.  Showings by Cooperating Brokers began on day one and continued steadily.  This morning the house went under contract after a few days of negotiations to an out of town purchaser. 

Shadow inventory to grow - Hey what's a shadow?

Lenders are likely to add at least 1.75 million homes to their real estate owned (REO) property rolls that will take nearly three years to sell and put pressure on home prices, according to a new report from Standard & Poor's Financial Services LLC.
Loan servicers appear to have "exhausted the supply of plausible candidates for loan modifications and switched their emphasis" back to foreclosure, the report said.
The high redefault rate on loan modifications will also add to the "shadow inventory" problem, analysts at Standard & Poor's said.

Fully Renovated 3 Bed/3 Bath in East Fort Lauderdale

736 NE 16th Street, Fort Lauderdale, FL | Powered by Postlets

Renovated Waterfront 3 Bedroom with Heated Pool

3480 NE 17th Way, Fort Lauderdale, FL | Powered by Postlets

Just listed for $125,000 in Fort Lauderdale

1300 NW 3rd Avenue, Fort Lauderdale, FL | Powered by Postlets

The Truth about Short Sales: Last-minute concessions make or break deal

Buyers often shy away from considering short-sale listings, either because they've had a bad experience or have heard horror stories about the deals that take forever and never close. Buyers' agents sometimes steer their clients away from sales that are subject to the lender agreeing to accept less than what they're owed, because it can mean a lot of work for nothing.
Short sales will probably be a part of the home-sale market for the next couple of years. They provide opportunities for buyers, particularly those attempting to buy a home in a low-inventory market